Profile picture
Bryce Weiner @BryceWeiner
, 8 tweets, 2 min read Read on Twitter
Think about it.

How do you "exit" USDT?

You buy other coins with it.
If USDT collapses, alts will moon...

... until the exchanges where they are traded are left holding the bag and then you're all welcome to join me on C-CEX.
Right now there are over 600M USDT in circulation with over 250M on both Bittrex and Poloniex.

What happens when they get stuck holding the bag because the scheme collapse?

Will @Bitfinex redeem the USDT, or fall back on their Terms of Service? 🤔
Oh... wait... if USDT collapses, @Bitfinex is already toast.

That means exchanges holding USDT are simply SOL.
Good question. Bitcoin (and Cash) is unaffected because of the high volume of trades in actual fiat on a wide range of exchanges. The systemic risk is only to those entities directly engaged with Bitfinex or USDT.
Now let's talk about SegWit2x and how USDT ties in.

Remember that CEO that was pumping illegal securities at a 3x option on Twitter?

Where were those traded, again?
Who is trading Bitcoin Unlimited futures and WHY?

Bitcoin Unlimited simply integrates all Bitcoin protocols into a single client.
What we can then see is the strange alignment of economic incentives between Bitcoin Core, Bitfinex, and USDT.

Stick that in your game theory.
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Bryce Weiner
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!